Mimo2

$CMG: Busted Burrito

Short
NYSE:CMG   Chipotle Mexican Grill, Inc.
1
$CMG broke below a long term trend line back in April and it has returned back to the trend which now acts resistance. A bearish head and shoulders pattern could also be forming. $CMG reports after the close today. Same stores growth has been decelerating and food prices were higher during the quarter. I see $CMG falling after earnings to the nearest support line at $600.

Disclosure: Long put spread.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.